2,824,239 Shares in NXP Semiconductors N.V. $NXPI Acquired by Norges Bank

Norges Bank acquired a new position in shares of NXP Semiconductors N.V. (NASDAQ:NXPI) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 2,824,239 shares of the semiconductor provider’s stock, valued at approximately $613,029,000.

Other hedge funds have also recently made changes to their positions in the company. JPL Wealth Management LLC purchased a new position in shares of NXP Semiconductors during the 3rd quarter worth approximately $26,000. Wexford Capital LP purchased a new position in shares of NXP Semiconductors during the 3rd quarter worth approximately $31,000. Kelleher Financial Advisors purchased a new position in NXP Semiconductors in the 3rd quarter valued at approximately $31,000. Community Bank N.A. purchased a new position in NXP Semiconductors in the 3rd quarter valued at approximately $37,000. Finally, Cornerstone Planning Group LLC boosted its position in NXP Semiconductors by 1,092.9% in the 3rd quarter. Cornerstone Planning Group LLC now owns 167 shares of the semiconductor provider’s stock valued at $38,000 after buying an additional 153 shares during the period. Hedge funds and other institutional investors own 90.54% of the company’s stock.

Insider Activity

In other news, EVP Andrew Micallef sold 1,000 shares of the firm’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $194.58, for a total value of $194,580.00. Following the sale, the executive vice president directly owned 9,942 shares in the company, valued at approximately $1,934,514.36. This trade represents a 9.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christopher L. Jensen sold 4,576 shares of the firm’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $234.03, for a total transaction of $1,070,921.28. Following the completion of the sale, the executive vice president owned 5,389 shares in the company, valued at $1,261,187.67. The trade was a 45.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 10,865 shares of company stock worth $2,508,416. 0.05% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

NXPI has been the subject of several recent research reports. Citigroup raised their price target on shares of NXP Semiconductors from $255.00 to $270.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of NXP Semiconductors in a research report on Wednesday, April 29th. KeyCorp raised their price target on shares of NXP Semiconductors from $300.00 to $345.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Wall Street Zen raised shares of NXP Semiconductors from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Loop Capital raised their price target on shares of NXP Semiconductors from $275.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $294.25.

NXP Semiconductors Price Performance

Shares of NXPI opened at $321.35 on Monday. NXP Semiconductors N.V. has a twelve month low of $183.00 and a twelve month high of $339.95. The firm’s fifty day simple moving average is $248.13 and its 200-day simple moving average is $230.64. The firm has a market capitalization of $81.13 billion, a price-to-earnings ratio of 30.75, a PEG ratio of 1.16 and a beta of 1.77. The company has a current ratio of 2.24, a quick ratio of 1.55 and a debt-to-equity ratio of 1.00.

NXP Semiconductors (NASDAQ:NXPI) last announced its quarterly earnings data on Wednesday, April 29th. The semiconductor provider reported $3.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.98 by $0.07. NXP Semiconductors had a net margin of 21.03% and a return on equity of 26.75%. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period last year, the business earned $2.64 EPS. The company’s revenue was up 12.2% on a year-over-year basis. Equities analysts forecast that NXP Semiconductors N.V. will post 13.38 EPS for the current fiscal year.

NXP Semiconductors Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 9th. Stockholders of record on Wednesday, March 25th were issued a $1.014 dividend. This represents a $4.06 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Wednesday, March 25th. NXP Semiconductors’s dividend payout ratio (DPR) is presently 38.85%.

About NXP Semiconductors

NXP Semiconductors N.V. is a global semiconductor company headquartered in Eindhoven, the Netherlands, that designs and supplies mixed-signal and standard product solutions for a broad range of end markets. The company focuses on enabling secure connections and infrastructure for embedded applications, developing technologies used across automotive, industrial and Internet of Things (IoT), mobile, and communication infrastructure segments. NXP’s offerings target customers that require reliable, secure, and high-performance semiconductor components for connected devices and systems.

Product lines include microcontrollers and application processors, secure elements and authentication technologies, RF and high-power analog components, connectivity solutions, and vehicle networking and infotainment systems.